JAKARTA. The transfer of 40% of PT Jasamarga Jalanlayang Cikampek (JJC) worth IDR 4.38 trillion to Salim Group’s subsidiary is included in PT Jasa Marga (Persero) Tbk’s (JSMR) attempt on asset recycling.
Subakti Syukur, President Director of Jasa Marga, claimed that this strategy is vital to balance the growth and sustainability of Jasa Marga’s business. “It is a part of asset-recycling program, which aims to enhance our business portfolio. We still have so much to build. There are several ongoing toll road construction (handled by JSMR),” he said after the ceremonial event of the transfer of 40% of JJC to PT Nusantara Infrastructure Tbk (META) yesterday (21/12).
JJC is JSMR’s subsidiary that operates the Jakarta-Cikampek Elevated Toll Road, also known as Mohammed bin Zayed Elevated Toll Road (MBZ). PT Margautama Nusantara (MUN), a subsidiary of Salim Group company, META, reportedly purchased at least 40% of JSMR’s portion in JJC. With this transaction underway, MUN now owns 40% of JJC’s shares. Meanwhile, JSMR’s portion is down to 40%, owned through PT Jasamarga Transjawa Tol, while PT Ranggi Sugironperkasa controls another 20% of JJC.
According to Subakti, this divestment Is intended to reinforce the cash flow, which will be spent on other toll road’s routes. Some of them include the Yogyakarta-Solo route, Yogyakarta-Bawen, Probowangi, Patimban access, and Gedebage-Tasikmalaya route. During the public expose last September, at least six of those toll road projects will be handled by JSMR. He also added that JSMR will proceed with its asset-recycling program to fulfill the needs of capital expenditure next year. (AM/ZH)